French oil major Total’s chief executive Patrick Pouyanné last week revealed his company’s plans to accelerate development of the company’s Tilenga project in Buliisa and Nwoya districts.
Mr Pouyanné made the announcement during an earnings call in Paris, according to a Reuters report.
The Tilenga project lies at the northern end of Lake Albert in Nwoya district, and is part of Exploration Area 2 in Buliisa district. Tilenga includes eight oil fields, and will feature about 419 oil wells at full production.
The project was expected to be sanctioned in 2018 but “has been delayed due to disagreements over field development strategy, tax disputes and a lack of infrastructure such as a refinery or export pipeline,” Reuters said.
“It is a difficult project because it is landlocked. It is a new country to oil, we have to create everything,” according to Mr Pouyanné.
He added that agreements had been reached on the refinery and pipeline while engineering on the project is also complete.